Good Short opportunity.
After getting rejected at the top of the parallel channel that contained all the rally of the NZD, the prices pushed in an impulsive manner before rallying and getting rejected from the 0.5-0.618.
I see a good short opportunity in the short term with the target being 0.5555 and for the stops we could either be very agressif by placing a stop right above the 0.618 retracement or be safe by placing the stop at the beginning of the current wave 1.
After getting rejected at the top of the parallel channel that contained all the rally of the NZD, the prices pushed in an impulsive manner before rallying and getting rejected from the 0.5-0.618.
I see a good short opportunity in the short term with the target being 0.5555 and for the stops we could either be very agressif by placing a stop right above the 0.618 retracement or be safe by placing the stop at the beginning of the current wave 1.